POLITICO Energy GOP districts and states lose billions as clean energy cancellations surge
Apr 18, 2025
Billions have been lost in clean energy investments, particularly in Republican states, under recent policies. A sharp decline in private sector funding reveals nearly $8 billion in canceled projects. The report highlights a stark contrast in funding between Republican and Democratic areas, raising concerns about future tax credits. Despite setbacks, there are still $1.7 billion in planned investments, showcasing both challenges and opportunities in the clean energy sector. Unexpected shutdowns in data centers could jeopardize grid reliability, adding to the complexities.
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Rising Clean Energy Investment Pullbacks
- Nearly $8 billion in private sector clean energy investments were canceled, closed, or downsized in early 2024.
- This pullback triples cancellations seen in the previous 30 months, signaling increasing industry uncertainty.
Clean Energy Cancellations Hit GOP Areas
- Most clean energy project cancellations are in Republican districts, totaling $6.3 billion.
- Only about $540 million were canceled in Democratic districts, highlighting a partisan investment disparity.
New Clean Energy Projects Persist
- Despite cancellations, new clean energy projects worth $1.7 billion were announced in March 2024.
- Canceled projects represent only 9% of the total 390 announced since the Inflation Reduction Act.